How To: Live Large On A Budget

Gadgets

It seems almost impossible to keep up with the latest incarnations of all the must-have gadgets in a world that is increasingly dependent on technology. Companies keep releasing new and improved versions of cell phones, computers, digital audio devices, and cameras to entice people into dropping major cash.

The great news is that as soon as new models come out, the earlier versions — which are generally only slightly less capable — automatically drop in price. However, if you are the type that needs the latest gadgets, look for multi-purpose devices. Save yourself a bundle by picking up a cell phone that has a built-in MP3 player and digital camera rather than buying all three separately.

Clothes

Dropping a bundle on clothes can be pretty easy given that the styles change every season and the hot designer brands keep getting more expensive. But you don't have to resort to thrift-store clothes just because you can't afford all the latest stuff.

Designer clothing has an enormous in-store markup, so avoid paying regular retail prices at all costs. Shopping off-season — buying your great winter coat in March, for instance — and going to sample sales are great ways to score designer items at low prices. The clothing and the quality are the same, but by timing it right, you can snatch up the leftover items for a steal.

Most designer brands also have outlet stores or agreements with discount chains that sell their leftovers at the end of each season, giving you the opportunity to get in on designer clothes for a lot less than retail price. You may miss out on the luxuries of well-displayed items and size variety, but the savings that can be had will make the effort well worth it.

On a budget, there is no way to fill your entire closet with designer goods, but that doesn’t mean you can’t still look sharp. Your designer duds should all be high-quality classic pieces that are worth the price and will last for years: A wool pea coat or classic trench, a tuxedo, a classic suit, great shoes, fine-knit sweaters, and classic ties will never go out of style and are the pieces that people will notice.

Fortunately, you can fill out the rest of your wardrobe with trendy pieces and accent items from mid-range brands without sacrificing your overall look. Even the most inexpensive clothing will look exponentially better if you take the time to have it tailored. Experienced tailors can make any item fit you perfectly, which is the key to making your clothes look expensive even when they aren't. One thing to keep in mind is that, expensive or not, keeping your clothing in good condition is more important than the label on the inside — scuffed Hugo Boss loafers aren't going to do you any favors.

live large

Living on a budget shouldn't mean sacrificing style and good times; with a few tweaks, even the smallest salary can get a little extra mileage. Smart shopping wins out over big spending every time — you don't have to max out your credit card to look like a star.